The Creative Industries Federation (CIF) has today published a report outlining key recommendations for supporting growth in the creative industries after Brexit.
The creative industries are the fastest growing sector in the UK economy, contributing over £101 billion to the UK economy in 2017. With Brexit fast approaching, this report highlights actions that must be taken by both government and industry to safeguard and continue this success.
The report’s recommendations call on national and local government and industry to:
- Ensure creative enterprises continue to flourish in a post-Brexit UK
- Safeguard and strengthen public investment and fiscal incentives to pump prime innovation
- Recognise sustainable enterprise growth as vital to the growth of the UK economy
- Tailor the finance and business support landscape to the needs of creative enterprises
- Empower local authorities, city regions, Local Enterprise Partnerships (LEPs) and industry to attract and support creative enterprises
- Recognise creative education and skills development as a foundation for growth
In response to the report, Dr Richard Wilson OBE, Chief Executive of TIGA, said:
“TIGA welcomes the recommendations put forward by the CIF. As the trade association for the video games industry, we will ensure that our members continue to make a strong contribution to the overall performance of the creative sector.
“The provision of creative industry tax reliefs is essential for continued success within the industry. The Video Games Tax Relief (VGTR) has led to unprecedented levels of growth, with VGTR-supported spend generating £294.1 million in direct GVA, and 4,640 direct full-time equivalent jobs in 2016.
“However, the Government could go further by introducing a Games Investment Fund – long campaigned for by TIGA. TIGA’s plan for a GIF would improve developers’ access to finance, encourage new intellectual property, and strengthen the resilience of the UK video games industry.
“In addition to finance, the UK video games industry would benefit from a flexible migration regime that allows access to highly skilled EU workers following Brexit. The industry is a world leader and depends on the ability to recruit the best and brightest talent – wherever they are from.
“We hope the Government listens to recommendations put forward by this report and TIGA will continue to work with Government to ensure the video games industry, and the creative sector as a whole, continue to thrive after Brexit.”